02:21 PM EDT, 08/11/2025 (MT Newswires) -- US benchmark equity indexes were mostly lower after midday Monday as traders awaited key inflation data scheduled to be released later in the week.

The Dow Jones Industrial Average was down 0.4% at 43,983.7 intraday, while the S&P 500 fell 0.1% to 6,384.9. The Nasdaq Composite was little changed at 21,455.2, following a record-high close Friday. Among sectors, energy saw the biggest drop intraday Monday, while consumer discretionary paced the gainers.

The official report on July US consumer inflation is due Tuesday. It is expected to show the consumer price index rose 0.2% sequentially and 2.8% annually last month, according to a Bloomberg poll. That would compare with growth rates of 0.3% and 2.7%, respectively, reported for June.

"A surprisingly high CPI, if it is driven by tariff-related goods inflation alone may not shock the (Federal Reserve) back into hibernation," Macquarie said in a Monday client note. "But a CPI that is high because core services inflation is higher could upend the narrative of a very pliant (Federal Open Market Committee) in September."

Last week, St. Louis Fed President Alberto Musalem reportedly said inflation was still a bigger concern for the US central bank than the labor market, while Atlanta Fed President Raphael Bostic said that there's still a possibility that policymakers will reduce their benchmark lending rate once this year.

The official July producer prices report is scheduled to be released Thursday.

US Treasury yields were lower intraday Monday, with the 10-year rate decreasing 1.8 basis points to 4.27% and the two-year rate losing one basis point to 3.75%.

UBS on Monday raised its 2025 target for the S&P 500 as the US economy and companies have performed better than expected, though the brokerage predicted a market trough in the second half. UBS lifted its year-end target to 6,100 from 5,500, but sees the index reaching 5,900 late in the third quarter or early in the fourth quarter.

West Texas Intermediate crude oil was up 0.1% at $63.96 a barrel intraday Monday.

In company news, Monday.com ( MNDY ) issued a third-quarter revenue outlook below market expectations at the midpoint, even as the project management software provider's results for the prior three-month period exceeded Wall Street's estimates. The company's shares were down nearly 27%.

Paramount (PSKY) will become the exclusive distributor of UFC's fighting events in the US under a $7.7 billion media rights deal with TKO Group ( TKO ) . TKO shares jumped 8%, the top gainer on the S&P 500, while Paramount fell 2.9%.

About 91% of S&P 500 companies have reported quarterly results in the current cycle, with earnings up 11.4% from a year earlier on revenue growth of 6%, Oppenheimer Asset Management said Monday. The brokerage's report released last Monday pegged the growth rates at 8.2% and 5.7%, respectively, based on financials reported by about two-thirds of the index constituents.

Ahead of the reporting season, Forbes put analysts' projected earnings growth at 4.8%, according to Oppenheimer.

Gold was down 2.5% at $3,403.2 per troy ounce, while silver lost 2% to $37.78 per ounce.